News about EC

KUALA LUMPUR (July 9): Piling and foundation specialist Econpile Holdings Bhd has bagged a RM122 million contract to undertake working bored piles for the proposed Pavilion Damansara Heights (Parcel 2) mixed development at Jalan Damanlela here.

KUALA LUMPUR (July 9): UOB Kay Hian Securities (M) Sdn Bhd believes Malaysian Resources Corp Bhd (MRCB) would not be affected if Prasarana Malaysia Bhd is unable to raise additional funds to complete the construction of the third light rail transit (LRT3), which has reached 10% to-date.

HANGZHOU (China): Chinese e-commerce giant Alibaba Group Holding Ltd said it remains committed to its plans in Malaysia despite uncertainty created by the Malaysian government’s review of megaprojects awarded by the previous administration.

KUALA LUMPUR (July 7): The construction of The Address in Taman Desa is expected to be temporarily suspended until after a judicial review in Aug 28, according to the Protect Taman Desa Coalition (PTDC).

PETALING JAYA (July 6): Eco World International Bhd’s (EWI) maiden Melbourne project, the A$243 million Yarra One tower began construction today.

Putrajaya Holdings Sdn Bhd Sabariah Ramli  Putrajaya Holdings Sdn Bhd general manager of marketing and commercial division “Putrajaya Holdings foresees that the property market will continue to be soft but with a slight improvement.

I&P Group Sdn Bhd (a member of Setia) Datuk Zaini Yusoff  S P Setia Bhd divisional general manager (I&P Group Sdn Bhd is a member of Setia) “In the soft market and with the majority of consumers taking a wait-and-see approach after the recent General Election, S P Setia has adopted the strategy of rolling out more mid-range landed homes in our established townships.

Construction sector Maintain underweight: According to The Edge Markets, East Coast Rail Link (ECRL) project owner Malaysia Rail Link Sdn Bhd (MRL) has ordered its main contractor, China Communications Construction Co Ltd (CCCC), to immediately suspend all ongoing works relating to the engineering, procurement, construction and commissioning scope of the ECRL.

PETALING JAYA (July 5): The proposed mortgage with less stringent lending requirements by banks mooted by the Housing and Local Government Ministry (KPKT) that is aimed at benefiting the M40 and B40 groups may not be a good move, said the Institute for Democracy and Economic Affairs (IDEAS) senior fellow Dr Carmelo Ferlito.

KUALA LUMPUR (July 4): The East Coast Rail Link (ECRL) project owner Malaysia Rail Link Sdn Bhd (MRL) has instructed its main contractor China Communications Construction Ltd (CCCC) to suspend all works under the engineering, procurement, construction and commissioning contract (EPCC) of the controversial ERCL project with immediate effect.